Since the ALP took office, our debt has essentially quadrupled


Our debt has gone up from about $53 billion in 2007 to a whopping $191 billion as of June 2011.

Total debt stands at $223 billion today.

191 in June.

223 six months later.

With the GFC still fresh in our memories, Europe teetering and a stalled US economy, is now really the time to be borrowing so readily?

And then take Queensland.

Even though the state is experiencing an unprecedented mining boom, the ALP government there has managed to burden the state with $65 billion of debt that will rise to $84 billion in three short years.

Queensland has lost its AAA credit rating and will have to pay off $100 million a week.

The state’s debt is at about $15,000 for every man, woman and child.

And if you go by the number of people with jobs – with 2,326,400 actually employed in full or part-time work – we’re looking at about $28,000.

With the global economy where it’s at, it doesn’t seem wise to this layman to be accruing so much debt.

Advertisements
    • Sean of Deer Park
    • December 15th, 2011

    Too true, BB. The ALP seem to enjoy spending like drunken sailors. It wouldn’t be so bad I guess if the money was being spent wisely and for future benefit or return.

    I thought Australia was on the right track years ago in having a good surplus (mojo account) to fall back on. Personally, I would have liked to see a long term plan to build it up to around $200 Billion, a sort of a big offset account, and keep it at that level.

    But, like most of us, I’s just a lowly layman and what would I know πŸ˜†

    • That budget surplus was wiped out within a year you’ll remember.

    • Carpe Jugulum
    • December 15th, 2011

    “The ALP seem to enjoy spending like drunken sailors”

    Drunken Sailors stop spending when they run out of money (1st hand experience) πŸ™‚

      • Sean of Deer Park
      • December 15th, 2011

      πŸ˜†
      Sorry, CJ, no offence intended.

      Perhaps I should have said, “spending with gay abandon”.

      (Gawd, are you even allowed to say that anymore?)

        • Carpe Jugulum
        • December 17th, 2011

        Of course you can say that, you just have to wear spandex and dance around with your wedding tackle dipped in glitter.

        Apparently it’s even worse for guys….. πŸ™‚

          • Sean of Deer Park
          • December 17th, 2011

          ROFLMFAO!!

          Gold spandex hot pants? But of couse!

        • Seems relevant…

            • Sean of Deer Park
            • December 18th, 2011

            Bugger! You snuck a peek at your gift under the tree, didn’t you, Bingers! πŸ˜†

              • The Wizard of WOZ
              • December 18th, 2011

              Spandex? You’re living in the past guys. Have you not heard of body paint? Comes with sparkles too…

              • This has gone too far!

                Your new gifts!

                Hot pants are just obscene!

                  • Carpe Jugulum
                  • December 18th, 2011

                  Not if Lady Jugulum is wearing them :p

      • Sean of Deer Park
      • December 15th, 2011

      Take2. (I keep getting a ‘404 Error’ on your page when commenting, Bingers? Gremlins everywhere lately. Two of the big banks have gone down here in the past 24hrs)

      Anyway, as I was saying. Sorry CJ, perhaps I should have said, “spending with gay abandon”.
      πŸ˜†

      (Gawd, are you even allowed to say that anymore?)

      • Take2. (I keep getting a ’404 Error’ on your page when commenting, Bingers? Gremlins everywhere lately. Two of the big banks have gone down here in the past 24hrs)

        Hmm…

    • Winston Smith
    • December 16th, 2011

    Queensland, I read somewhere today, has to roll over $15 Billion next year. They have guarantees for five billion.
    Better make your super safe, because these swine will be confiscating what they haven’t already.

  1. No trackbacks yet.

Surely you're thinking something...

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: